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Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 31,800 $ 32,120
Adjustment to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts 35 79
Depreciation - Property, plant and equipment 6,561 6,580
Depreciation - Rental equipment 2,884 2,355
Amortization of intangibles 4,049 4,059
Amortization of debt issuance 176 176
Stock-based compensation expense 2,303 2,125
Provision for deferred income tax (1,641) 148
Loss on sale of property, plant and equipment 0 151
Changes in operating assets and liabilities:    
Accounts receivable (30,865) (33,154)
Inventories (9,613) (9,185)
Rental equipment (7,148) (6,206)
Prepaid expenses and other assets (7,096) (4,974)
Trade accounts payable and accrued liabilities 13,987 180
Income taxes payable 5,489 5,160
Other assets and long-term liabilities, net 3,280 1,510
Net cash provided by operating activities 14,201 1,124
Investing Activities    
Purchase of property, plant and equipment (6,008) (6,653)
Proceeds from sale of property, plant and equipment 116 749
Net cash used in investing activities (5,892) (5,904)
Financing Activities    
Borrowings on bank revolving credit facility 0 134,000
Repayments on bank revolving credit facility 0 (44,000)
Principal payments on long-term debt and finance leases (3,752) (3,813)
Contingent consideration payment from acquisition 0 (4,402)
Dividends paid (3,595) (3,103)
Proceeds from exercise of stock options 354 728
Common stock repurchased (1,613) (1,618)
Net cash (used in) provided by financing activities (8,606) 77,792
Effect of exchange rate changes on cash and cash equivalents 3,297 (3,129)
Net change in cash and cash equivalents 3,000 69,883
Cash and cash equivalents at beginning of the year 197,274 51,919
Cash and cash equivalents at end of the period 200,274 121,802
Cash paid during the period for:    
Interest 3,239 5,830
Income taxes $ 6,241 $ 5,306